- Privacy, quantum risks, and small markets
- A massive opportunity
Billionaire investor Ray Dalio recently took aim at Bitcoin despite personally holding the leading cryptocurrency
However, where Dalio sees fundamental flaws, Bitwise President Matt Hougan sees a roadmap to a $750,000 valuation.
Privacy, quantum risks, and small markets
During a recent appearance on the All-In podcast, Dalio addressed the widening performance gap between traditional gold and Bitcoin. When asked why Bitcoin hasn’t played the safe-haven role many expected, Dalio pointed to several structural issues.
HOT Stories
XRP Vampirized by Leverage-Driven Pump; Bitcoin Extends 18% Gains vs. Silver; Binance Lists 5 Major Pairs, Litecoin and Zcash Too: Morning Crypto Report
‘Seems Important’: Ripple CTO Emeritus Reacts to DTCC News
He pointed to a fundamental lack of financial anonymity as a major headwind: “So, Bitcoin does not have private transactions that can be monitored and then indirectly, perhaps, controlled.”
Dalio also expressed heavy skepticism regarding institutional and sovereign adoption, directly contrasting Bitcoin with traditional reserves:
“Central banks are not going to want to buy bitcoin and being able to hold it. So, it’s not just individuals, it’s institutions and so on, but most of you know, and central banks.”
Furthermore, he questioned the network’s long-term security in the face of advancing technology. He has noted that “there has been um some question or thoughts of the development of you know new technologies like quantum computing and so on. Can there be issues regarding that?”
Finally, Dalio argued that the asset is too highly correlated with tech stocks and easily manipulated due to its size.
A massive opportunity
Bitwise President Matt Hougan argued that these exact criticisms are what give Bitcoin its massive future upside.
“Some hear criticism; I hear opportunity. These are the reasons Bitcoin is 4% of the size of gold. If these critiques did not exist, Bitcoin would already be ~$750,000/coin. I invest in bitcoin in part because I am confident these things will change over time,” Hougan said.
If Bitcoin already offered perfect privacy, boasted a massive market size, was immune to quantum computing, and was actively hoarded by global central banks, it would have already absorbed gold’s market share.
If Bitcoin were to achieve parity with gold’s massive market capitalization, a single coin would be valued at roughly $750,000
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Gate Crazy Wednesday is now live! Complete tasks to win FOGO and Leica cameras. USDT financial products offer up to 100% APY. Stake BTC, ETH, SOL and earn up to 16% mining APY.
Gate News bot message: According to Gate's official announcement on March 18, 2026
Gate launches the "Crazy Wednesday" activity, running from March 18, 2026 at 14:00 to March 22 at 16:00 (UTC+8). Users can unlock blind boxes by completing multiple tasks including flash swaps, spot trading, contract trading, and deposits. Prizes include FOGO tokens, lucky bags, and Leica cameras, with a 100% win rate.
During the event, the platform offers a USDT 14-day fixed wealth management product with 8% annualized yield. New users can enjoy a 3-day 100% annualized yield bonus. Additionally, surplus asset wealth management products are available including 0G, APT, AZTEC, and IDOS, with maximum annualized yields reaching 300%. Users who stake BTC, ETH, and SOL can enjoy up to 16% annualized yield, with SOL staking of 0-1 eligible for 16% annualized returns. All rewards will be distributed within 14 business days after the event concludes.
GateAnnouncement7m ago
Metaplanet Raises Additional $255 Million to Purchase Bitcoin, Targeting Full Increase to $531 Million
Japan's Metaplanet has recently raised approximately $255 million in new funding to increase its bitcoin holdings, with a target of holding 210,000 BTC before 2027. The company has become Japan's largest bitcoin holder and is further expanding its market exposure. This fundraising strategy includes premium share offerings and warrants, aimed at accelerating bitcoin accumulation and ecosystem development.
区块客48m ago
Coin Center Urges SEC to Establish Unified Crypto Rules, Opposes Reliance on Individual Case Exemptions
On March 18th, Coin Center sent a letter to the U.S. SEC, urging the prioritization of systematic cryptocurrency asset regulatory rules to avoid market fragmentation and unfairness. The letter pointed out that crypto networks should be considered public infrastructure. The SEC recently issued a classification for non-securities crypto assets and signed a memorandum of understanding with the CFTC, aimed at strengthening regulatory coordination. Coin Center warned that selective regulation could impact market fairness. The U.S. Congress is advancing the CLARITY Act, expecting to provide a clear compliance pathway for digital assets.
GateNews1h ago
Uptrend Encountering Resistance? Analysis: Bitcoin Rebound May Face Headwinds Between $75,000 and $85,000
Bitcoin is currently around $74,611, facing resistance near the $75,000 level, with $85,000 being a larger resistance zone. Despite bullish signals appearing in the derivatives market and a short-term uptick in risk appetite, the increase in Bitcoin flowing into exchanges may bring profit-taking pressure. Market focus is concentrated on the Federal Reserve's interest rate decision, and if the results fall short of expectations, it will affect the sustainability of Bitcoin's rebound.
区块客1h ago
Bhutan Government Moves $27 Million in Bitcoin, Continuing 2026 Selling Trend Despite Price Recovery
The Royal Government of Bhutan transferred approximately 375 Bitcoin worth $27 million on March 17, 2026, marking its largest single-day movement in recent weeks and continuing a 2026 selling trend that has now exceeded $40 million in total outflows.
CryptopulseElite1h ago
Bitcoin Layer 2 Stacks deploys SIP-034, increasing DeFi capacity 30 times
Stacks Labs has successfully implemented the SIP-034 upgrade, enhancing network processing efficiency for DeFi applications by up to 30 times by resolving critical bottlenecks. This update allows selective reset of resource limits, enabling more transactions per block, particularly benefiting complex DeFi use cases. While STX tokenomics remain unchanged, the upgrade may boost long-term network activity.
TapChiBitcoin1h ago
